Maple Place Project Photos

Maple Place (after)

Maple Place (before)

Maple Place

North Little Rock, AR
Number of Units: 286
Total Development Cost: $36,243,109
Development Type: 4% LIHTC
Development Partner: North Little Rock Housing Authority
Project Type: Senior

Sources:

First Mortgage: $13,050,000
Seller Take Back: $9,331,995
HOME: $450,000
Equity: $11,671,843
Developer Fee: $1,741,331

Total Sources: $36,243,109

Project Narrative:
This project has two sites with a total of 286 units that will be rehabilitated. The sites consist of zero, one, and two bedrooms high rise multi-family units. This project will target the elderly and disabled tenants.

Maple Place (formerly known as Willow Homes) and Oak View (formerly known as Campus Towers) will receive substantial rehabilitation. This includes upgrades to interior and exterior lighting, sprinkler systems, elevators, kitchen and bathroom renovations, flooring, HVAC systems, hot water heaters, updated common space, and better accessibility features. There will also be upgrades to the exterior.

There will be additional amenities that will be offered at no cost to the tenant above their basic rents. These amenities include professionally landscaped grounds, community space/office, frost-free refrigerators in all units, energy efficient units that provide sustainable features, and Energy Star compliant central air and heat.